The Public Investment Corporation (PIC) has its sights set on becoming a major player in the R100bn listed property sector - which will no doubt prompt plenty of corporate action from the Government-owned pension fund manager over the coming months.

Octodec and Premium have over the past few years consistently managed to outperform other listed property loan stocks (PLSs) and property unit trusts (PUTs)

Redefine attributed the strong performance to growth in the company's underlying property portfolio

Government-owned pension fund manager Public Investment Corporation (PIC) is expected to shake things up a tad in the listed property sector following its surprise takeover bid for Cape-based loan stock company CBS Property Portfolio

Madison Property Fund Managers today announced its excellent maiden results as a JSE-listed company with distributable income of 39 cents per linked unit for an eight month financial period to 31 December 2006. Distributable earnings of R74,1 million exceeded the forecast of R63,6 million by a noteworthy 16,5%.  This equates to a 47,8% total return to linked unitholders since listing on the Financial Real Estate – “Real Estate Holdings and Development Sub – Sector” of the JSE Limited on 7 June 2006.

Catalyst continues to favour funds that exhibit high-quality and sustainable income streams; excellent disclosure and transparency; and management with a proven ability to perform

Property loan stock Madison Property Fund Managers lists under real estate holdings and development in the first JSE listing of a property asset management company in South Africa. With Madison executive director Wolf Cesman

Madison Property Fund Managers, one of South Africa’s largest property managers, announced today that its private placement and public offers were both substantially oversubscribed with applications received of approximately R2.3 billion.

At a time when many listed property loan stocks are yielding about 6,2% (see, for example, Sycom on page 57), a yield of 10%, as forecast by Madison for the year to April 2007, looks attractive.

ApexHi unit holders may have read that Madison Property Fund Managers, the main beneficiary of the ApexHi Manco Trust, ApexHi’s asset manager, has announced its intention to list in the Real Estate Sector of the JSE Limited.